What the big boys are doing with malls
Brookfield Place, the downtown Manhattan mall, lost its prime tenant, Saks Fifth Avenue. Less than three months later, Brookfield Place has finalized a deal with a new tenant.
Convene will build a mixed-use conference and events space serving neighboring office workers, including two meeting halls with the capacity to seat up to 500 people each.
Brookfield Place did what malls across America should be striving for: looking beyond retail to in-demand tenants like coworking spaces, fitness centers and multi-use community hubs.